Riot veterans raise $37.5 million for Theorycraft Games startup

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Industry veterans from Riot Games and other studios have raised $37.5 million to launch their Theorycraft Games game studio.

The studio of six people is based in Seattle and Los Angeles, and it is working deep, competitive player-versus-player games.

China’s NetEase led the round, and other investors include NEA, Bitkraft Ventures, Griffin Gaming Partners, Sisu Game Ventures, and a small group of strategic angel investors. It’ll use the capital to recruit diverse and driven talent to the Theorycraft team to develop a community-driven, PvP game available on multiple platforms.

A triple-A team

The leaders once worked at Riot Games, Bungie, Blizzard, and Valve Software. They helped make games such as League of Legends, Halo, Destiny, Overwatch, Valorant, and Team Fortress